Release date- 04082019 - Danakali Limited (ASX: DNK, LSE: DNK, Danakali or the Company) is pleased to announce that Africa Finance Corporation (AFC) and African Export Import Bank (Afreximbank, together the Mandated Lead Arrangers
), have obtained formal credit approval to provide the Colluli Mining Share Company (CMSC) with US$200M in senior debt finance (the Facility).
Commercial Bank of Dubai, Emirates NBD, Noor Bank, Allied Bank, Dubai Islamic Bank, First Abu Dhabi Bank, Mashreq Bank and Sharjah Islamic Bank acted as the initial mandated lead arrangers
as Book Runners and Mandated Lead Arrangers
; BNP Paribas, CreditAgricole, Mizuho Bank., and RBC Capital Markets as Lead Arrangers
; and Abu Dhabi Commercial Bank PJSC, ANZEF Limited, Gulf International Bank B.S.C., National Bank of Abu Dhabi PJSC, National Bank of Kuwait (Jeddah Branch), The Northern Trust Company, and Societe Generale Corporate & Investment Banking as Arrangers.
The banks' group was led by Bank of America Merrill Lynch and Mizuho Bank as joint coordinators and mandated lead arrangers
. The syndicated loan closure in December 2018 attracted a high level of interest and was oversubscribed 25 percent, displaying tremendous support that Commercial Bank enjoys with its relationship banks group, the statement said.
Commercial Bank held a commemorative lunch as a means of thanking all relationship banks for their lending support, which was provided throughout the closure of the $750mn syndicated senior unsecured term loan facility and led by Bank of America Merrill Lynch and Mizuho Bank as joint co-ordinators and mandated lead arrangers
. The syndicated loan closure, which occurred in December 2018, attracted a high level of interest with 25% oversubscription displaying tremendous support that Commercial Bank enjoys with its Relationship Banks group.
which together acted as Joint Lead Arrangers
. Bladex is also the Administrative Agent under the Facility.
Summary: Emirates NBD acted as agent bank, security agent and mandated lead arranger
in the club financing arrangement that included Commercial Bank of Dubai and Arab Bank as mandated lead arrangers
A statement by Bahrain-based Bank ABC, one of four initial mandated lead arrangers
and bookrunners along with Abu Dhabi Commercial Bank, Boubyan Bank and First Abu Dhabi Bank, said the facility will be used for general funding purposes.
Emirates Islamic coordinated the Islamic facility with Mashreq Bank and Dubai Islamic Bank as initial mandated lead arrangers
and Arab African International Bank as mandated lead arranger
BGL BNP Paribas, Citi, DNB and Scotiabank acted as coordinators and bookrunning mandated lead arrangers
. Furthermore, Bank of China, Goldman Sachs and JP Morgan joined as mandated lead arrangers
, together with Barclays, BBVA, ICBC, and Nordea joining as lead arrangers
The Mandated Lead Arrangers
and Bookrunners are ArabBanking Corporation B.S.C., Barclays Bank PLC, Commerzbank Aktiengesellschaft Filiale Luxemburg, First Gulf Bank PJSC, HSBC Bank Middle East Limited, Mizuho Bank LTD and Standard Chartered Bank.